Has anyone ever tried having a position on every single type of coin on Poloniex or other exchanges? For example I have 10 BTC on Polo right now. So I have 12000 dollars roughly to split between all 70-something coins. Every few weeks there seems to be a random shitcoin that goes +1000% or so for seemingly no reason for a day or so. You would never be able to guess what coin this would be, but if I have a position in all of them I am pretty much guaranteed to make at least $150k from the 150 originally invested into the one of the coins eventually, unless you believe there will never be another shitcoin that people pump for no reason. What does everyone think about this plan?
>>1962990
Orrr you could learn to predict which coin will moon by simply following latest developments on forums, twitter & fb.
>>1963000
Yes but there are times when a coin will skyrocket from whales pumping it for no reason, etc. For example a few weeks ago XBC went +2000% in one day for no discernible reason. There was no new developments on it, it was a dead coin until chinese miners or whoever decided to pump it. There is no way to know before hand when something like that will happen. If had $150 in it I would have $300000 right now. And every few months or so something like this seems to happen.
What forums and twitter handles do you recommend anon?
>>1963012
It's a brain-dead strategy that could net you big. Xbc type pumps happen 2-3 times a year but think of how you would have successfully liquidated 300btc worth of it. Pumps like that happen once ina blur moon. Your strategy can work but your capital will be tied to hodls. This will consume you. You will become a cryptoslave lol
it's not a bad idea
i never tried it, but when i see pinkcoin go up 300% in a day i wonder
i wouldn't want to invest in something already pumped so maybe research a little before you try this
also would you buy and set up sell orders at 100% 150% of the price you bought it for?
>>1963070
There is usually plenty of volume on these huge pumps to be able to liquidate your position. For example during the Pinkcoin pump today the peak was like 2000+ BTC an hour and it was above 100 BTC/hour atleast throughout all of it. So I wouldn't have any trouble getting the 36 btc out of it that I would have made. Of course I would space it out a bit just to be sure I wouldn't crash the price.
there's many of us that invest in many cryptos like 10+. I personally invest in 8 and its been very profitable so far.
your primary risk is ofc a downturn. look at what happened to alts the last time bitcoin crashed. everything just seemed to die in an instant, and for a long long time, btc was the only thing relaly worth holding.